Bellisio Foods acquires Overhill Farms
MINNEAPOLIS – Bellisio Foods, Inc. announced its acquisition of Los Angeles-based Overhill Farms, Inc., producer and supplier of frozen foods under such brands as Boston Market. The transaction was approved by the boards of both companies and is expected to be completed by summer.
Bellisio Foods is the third-largest producer of frozen entrees in the United States. The acquisition expands Bellisio Foods’ position as a leading company in the frozen entree and snack markets. The addition of the Boston Market license dovetails with Bellisio’s “family of brands” strategy. Finally, the deal increases Bellisio Foods’ foodservice and private label customer base.
“I am pleased to announce this acquisition. The addition of Overhill Farms’ manufacturing capabilities and its customer and brand portfolios align perfectly with Bellisio’s growth strategies to expand our customer base, strengthen our brand portfolio, invest in high-growth platforms, and leverage our manufacturing disciplines to generate strong returns,” said Joel Conner, Bellisio’s chairman and CEO.
Overhill Farms is a value-added supplier of branded and private label frozen foods for the retail and foodservice markets, with net revenues of $194.4 million in fiscal 2012. Its customers include Panda Restaurant Group, Inc., Jenny Craig, Inc., Safeway Inc., Target Corporation, Pinnacle Foods Group LLC, and American Airlines, Inc. among others.
“We believe that Overhill’s brand portfolio and west coast manufacturing presence enables us to unlock meaningful synergies and better serve existing and new customers through expanded capabilities and a broader offering,” Conner said. “We look forward to working with Overhill Farms’ employees and customers as we incorporate this business into Bellisio.”